Mergers & acquisitions (M&A)

Oct 15Official filingConsumo CíclicoStocksM&A

BlackRock buys 5.055% stake in Cogna Educação

The asset manager acquired 104,345,370 common shares in Cogna, reaching 5.055% of the total, alongside 6,822,515 cash-settled derivatives equal to 0.331%, according to a filing with the CVM, Brazil's securities regulator. BlackRock stated the holding is purely for investment and will not alter control or management.

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• BlackRock held 104,345,370 ordinary shares in Cogna Educação S.A. on October 9, 2026, reaching a 5.055% stake in total issued ordinary shares.
• The manager holds 6,822,515 cash-settled derivative instruments, representing 0.331% of total ordinary shares issued by the company.
• BlackRock declared the stake is strictly for investment purposes without intent to alter Cogna's control or management, per CVM, Brazil's securities regulator, Resolution 44/2021.

Sources:CVM - Documentos IPE (PDF)

Oct 15Official filingB3 FilingStocksM&A

SPX cuts Bemobi stake to 0.28% after selling relevant equity holding

The fund manager shed its major position in the tech company, retaining 239,567 common shares out of total equity, according to a B3 filing with the CVM, Brazil's securities regulator. SPX holds no derivatives or voting agreements tied to Bemobi.

• Funds managed by SPX Gestão de Recursos reduced their equity stake in Bemobi to 239,567 common shares, representing approximately 0.28% of total common shares.
• SPX stated to Brazil's securities regulator CVM that its funds hold no other securities or derivative financial instruments referenced to Bemobi shares.
• SPX confirmed there is no agreement regulating voting rights or the purchase and sale of securities issued by Bemobi Mobile Tech S.A.

Sources:CVM - Documentos IPE (PDF)

Oct 15Capital Markets & M&AStocksM&A

Getty Images prepares Chapter 11 bankruptcy after failed Shutterstock merger

The image platform announced on Oct 12, 2026, plans to file for U.S. bankruptcy protection and return to private ownership after merger talks with Shutterstock collapsed.

• Getty Images plans to return to being a private company.
• The announcement was made on Oct 12, 2026.

Sources:Exame

Oct 15Capital Markets & M&AStocksM&A

Antitrust regulator CADE approves stablecoin joint venture involving Visa and Mastercard

CADE, Brazil's antitrust authority, cleared a joint venture between Visa, Mastercard, Coinbase, Stripe, and Shopify to issue a U.S. dollar-backed stablecoin.

• The partnership brings together Visa, Mastercard, Coinbase, Stripe, and Shopify.
• The project focuses on creating a dollar-pegged stablecoin.

Sources:Exame

Oct 15M&AStocksM&A

Embraer acquires majority stake in Indian aerospace firm NAL

Embraer confirmed on Oct 14 an agreement signed on Oct 9 to purchase 51% of India's Novavayu Aerospace Limited for 510 million rupees (approximately R$ 27 million). Former controlling shareholder Mahindra & Mahindra disclosed the transaction prior to the Brazilian planemaker's confirmation.

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• The deal values 51% of Novavayu Aerospace Limited at 510 million rupees.
• Mahindra & Mahindra, the former controlling entity of NAL, initially disclosed the agreement.

Sources:Folha de S. Paulo (Mercado)

Oct 15M&ATechStocksM&A

Biotech startups drive sixfold surge in reverse mergers to secure stock listings

Biotech companies increased reverse merger transactions nearly sixfold this year to bypass traditional initial public offering routes. Promising startups are acquiring struggling publicly traded shell companies to gain immediate access to stock exchanges.

• Reverse merger transactions among biotech firms expanded by nearly six times year over year.
• Startups use distressed public companies as vehicles to expedite listing processes.

Sources:Folha de S. Paulo (Mercado)

Oct 14Official filingCapital Markets & M&AStocksM&A

PDG Realty Shareholders Acquire 5.57% Stake for Investment

A group of six individual investors jointly acquired 1,515,229 common shares of PDG Realty S.A., reaching a 5.5717% stake in the homebuilder. The acquisition was notified to CVM, Brazil's securities regulator, on October 12, 2026, with the shareholders stating the holding is strictly for investment purposes.

• A group of six shareholders acquired 1,515,229 common shares in PDG Realty, reaching approximately 5.5717% of the company's total shares.
• The investors declared the acquisition is strictly for investment purposes, with no intention to alter corporate control or management structure.

Sources:CVM - Documentos IPE (PDF)

Oct 14Official filingMateriais BásicosStocksM&A

BlackRock builds 5.04% preferred stake in Usiminas

BlackRock, Inc. disclosed to CVM, Brazil's securities regulator, that its aggregate holdings reached 27,604,517 preferred shares and 5,918 American Depositary Receipts of Usiminas on October 8, 2026. The steelmaker received the official notice on October 12, 2026.

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• On October 8, 2026, BlackRock reached 27,610,435 preferred shares in Usiminas, or 5.040% of total preferred shares, via direct shares and ADRs.
• BlackRock also acquired 8,342,524 cash-settled financial derivatives, representing 1.523% of Usiminas preferred shares.
• BlackRock stated the stake is strictly for investment without altering control, in a filing sent to CVM, Brazil's securities regulator.

Sources:CVM - Documentos IPE (PDF)

Oct 14Capital Markets & M&AStocksM&A

CADE Approves Panco's Purchase of Nutrella Brand from Bimbo Following Mandatory Divestment

CADE, Brazil's antitrust authority, unanimously ratified Panco as the approved buyer of the Nutrella bread brand, concluding a forced divestment mandated after Grupo Bimbo acquired Wickbold. Panco acquired the asset following a July judicial auction that generated a top bid of R$ 4.7 million, after CADE previously rejected four potential buyers proposed by Bimbo.

• The Nutrella asset auction peaked at R$ 4.7 million in its second phase, following an initial industry-restricted bid of R$ 3 million.
• CADE's administrative tribunal ratified the transaction after the agency rejected four buyers previously selected by Bimbo.

Sources:Valor EconômicoO Globo (Economia)

Oct 13Capital Markets & M&AStocksM&A

Starbucks denies takeover talks while market speculates on Chipotle deal

Starbucks issued a statement on Oct. 12 denying any purchase of Chipotle Mexican Grill, responding to reports that it evaluated a deal for the $41 billion restaurant chain. Chipotle shares fell 3% at Monday's New York open while Starbucks rose 1.2%, following a Financial Times report on Oct. 8 detailing potential integration hurdles that could prevent a deal larger than Burger King's $11.4 billion acquisition of Tim Hortons in 2014. The coffee chain insists its sole focus remains on its restructuring plan, while reporting by the British newspaper left disputed whether a formal offer was ever submitted.

• Chipotle has a market capitalization of around $41 billion.
• Starbucks shares rose 1.2% in New York opening trading on Oct. 12, while Chipotle fell 3%.
• A deal would exceed Burger King's $11.4 billion purchase of Tim Hortons in 2014.

Sources:InvestNews

Oct 13M&AStocksM&A

Mergers and acquisitions expand rapidly across companies in Espírito Santo

Corporate merger and acquisition activity recorded strong growth across companies operating in the Brazilian state of Espírito Santo. The rise reflects accelerated dealmaking trends among regional businesses expanding their operations.

• Espírito Santo recorded an acceleration in regional corporate mergers and acquisitions.

Sources:A Gazeta (ES)

Oct 12M&AStocksM&A

Ronaldo Nazário buys controlling 51% stake in HEAD's Brazilian unit

Former soccer player Ronaldo Nazário acquired a 51% stake in DLD, the distributor operating HEAD and MARES in Brazil, while an investor group led by former tennis player Bruno Soares acquired the remaining 49%. HEAD Brasil recorded a 26% revenue increase over the last 12 months, part of a 20% average annual growth over three years.

• Financial details of the acquisition were not disclosed by the parties.

Sources:Forbes Brasil